Ready Capital Corp (NYSE:RC) Announces Quarterly Dividend of $0.40

Ready Capital Corp (NYSE:RC) declared a quarterly dividend on Tuesday, September 10th, NASDAQ reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.40 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date of this dividend is Friday, September 27th.

Ready Capital has a payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Ready Capital to earn $1.74 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 92.0%.

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Shares of NYSE:RC traded down $0.01 during midday trading on Thursday, reaching $15.18. 2,946 shares of the company’s stock were exchanged, compared to its average volume of 167,862. The company’s 50 day simple moving average is $14.89 and its two-hundred day simple moving average is $14.94. The firm has a market capitalization of $669.78 million, a PE ratio of 8.63 and a beta of 0.70. Ready Capital has a 12 month low of $13.44 and a 12 month high of $17.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.41 and a current ratio of 1.41.

Ready Capital (NYSE:RC) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $21.28 million during the quarter, compared to the consensus estimate of $17.58 million. Ready Capital had a net margin of 30.47% and a return on equity of 8.40%. On average, research analysts anticipate that Ready Capital will post 1.56 earnings per share for the current year.

A number of research firms have recently commented on RC. Zacks Investment Research raised shares of Ready Capital from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TheStreet raised shares of Ready Capital from a “c” rating to a “b-” rating in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald reduced their price objective on shares of Ready Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.50.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.